North Cyprus|Frequently Asked Questions About North Cyprus|Sunbeams Estate Agent

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Frequently Asked Question

North Cyprus Properties, Kyrenia Property Buy and Property Sale, Sunbeams Estate Agent Northern Cyprus

Reference:

North Cyprus Frequently Asked Questions

Q. What is a Donum?

A: A large plot of land big enough for a large house a large swimming pool a large barbeque area and lots of trees and shrubs. For the technical, a Donum (4 evleks) equals 3,600 square feet or 1,338 square meters or a third of an acre.

Q: Possibility to get a Mortgage for Property in North Cyprus (TRNC)?

A: Due to the political isolation of Northern Cyprus it is not possible to get mortgages on properties. However, some developers have now started to offer long term fixed rate property mortgages directly, typically for 70% of the property value over a twenty year term fixed at 5%. These mortgages are approved on a self certified basis and are not tied to your UK collateral.

Q: Do I need to be in North Cyprus to complete on a Purchase?

A: No. It is not necessary for you to be in the inland to Purchase your property. Due to any reason if it is not possible for you to stay .We at Sunbeams provide all the details of purchasing to our customers online and via email. You will have no problem and can be at an ease that you are in the safe hands.

Q: What is the time difference with UK?

A: Turkish Cyprus is two hours ahead of UK GMT time.

Q: Is the local driving license required in Northern Cyprus?

A: Driving in Cyprus like in many other ex-colonies is on the left, which should not create any problems. You would be allowed to drive on your UK Driving License for the period of three months, after that you would need to apply for a permanent driving license.

Q: How will we come to know about the construction work?

A: We Sunbeams of Turkish Republic of North Cyprus will provide you with all the pictures of the construction phase . So you will not have to worry about this.

Q: Who will look after our house and pay bills while we are away from North Cyprus?

A. When you are away we can offer you the services of Sunbeams Property Management. If you want to know about are Property Management .You can visit the following link www.sunbeamsestate.com/property_management

Q: Can we use a UK solicitor?

A: No. You must use a solicitor based here in TRNC. You can get your own solicitor or we do have solicitors who can guide you with the whole process.

Q: Are there any extras to the purchase price?

A: Unfortunately yes. As the purchaser you will need to retain the services of a solicitor. The fees are approximately £1000 to £1300. The property also charges a 5% VAT payable upon transfer of title deeds. Also a stamp duty of 6% of the valuation levied by the local Land Registry Office is to paid. 1% of the 6% (Stamp duty) is a one off payment to the local council. Purchasers will have the option to be except from 3% of the 6% stamp duty on any one & only one purchase. VAT is payable on some new build properties only.

Q: Are their good schools?

A: Yes their are good English medium schools where you can send your children.